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| ADJUSTED TAX BASIS |
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Related Terminology: INTEREST DEDUCTIONS (UNDER CURRENT TAX LAW)
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| the original cost or other basis of property, reduced by depreciation deductions and increased by capital expenditures. |
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| Example Collins buys a lot for $100,000. She erects a retail facility for $600,000, then depreciates the improvements for tax purposes at the rate of $15,000 per year. After 3 years her adjusted tax basis is $655,000 [$100,000 + $600,000 – (3 x $15,000)]. |
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